Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) CEO Sean Smith is forecasting another period of “sizeable growth” as the benefits of the investment made over the last years start to translate into strong sales growth.
Revenues for 2024 are expected to rise by 34% to approximately £4.3 million. Product sales are anticipated to jump 42%, supported by increased demand for sustainable products such as the biopesticide Mevalone.
Eden’s full-year losses are projected to widen slightly to around £2.1 million, with cash reserves set to reach £3.6 million by year-end.
Its 2025 forecast suggests a 16% revenue increase, bolstered by expanded product approvals and a steady financial outlook without the need for additional funding.
It attributed the positive outlook to regulatory approvals and the growing adoption of its sustainable agricultural solutions.
For example, challenging weather across Europe spurred Mevalone sales in 2024, and Eden expects to expand its market share as conventional pesticides face bans.
Eden is also seeing demand for its nematicide Cedroz, recently launched in Morocco and supports horticulture exports to Europe.
A notable milestone for the business was the first Italian approval of Ecovelex, a bird repellent used as a seed treatment for maize, allowing sales to Eden’s partner Corteva.
The company anticipates further regulatory clearances in 2025, including an EU-wide authorization for Ecovelex.
Additionally, Eden is exploring partnerships for its insecticide product after favourable trial results. It is currently being discussed with potential distributors, and we expect updates soon.
CEO Smith told investors: "It is good to note that 2024 is expected to result in another year of sizeable growth for Eden.
"I believe strongly that the company is investing intelligently in its current and future portfolio of products and that we are now clearly starting to see the benefit of the investments that have been made over the past five years, including investments in product portfolio expansions, internal capacity and addressable market growth for our first two products."